CyberTrust — step in to securitisation
Hello everyone, today I finally got time to review CyberTrust and upcoming ICO.
I want to stress out that CyberTrust is Swiss company registered in Switzerland, so it works under Swiss laws, which are one the most loyal for banks and bank customers.
First of all Cybertrust main customers will be banks and other large institutional investors.
Cybertrust will solve following problems:
Create Global Crypto Notes (GCN), so that each owner of a GCN will have legal claim to its underlying crypto assets (e.g. BTC, ETH, BCH).
Create three Special Purpose Vehicles (SPV) : one each for BTC, ETH and BCH.
Off-chain storage is provided by Xapo to secure the private keys of the underlying crypto assets in a specialized Cold Vault secure facility(ies), including insurance on all Hot Wallet Transactions.
All Global Crypto Notes will each have a registered International Securities Identification Number (ISIN).All Clearing & Settlement for GCNs will be done by Clearstream , known as the “bank of banks”, to permit safe and regulatory compliant trade clearing.
SPV financials will be audited by Ernst & Young S.A., starting Q1 2018. The SPV administrator is a licensed Luxembourg entity Creatrust S.A.
Sounds really complicated isn´t it? But if don´t look in details, and just understand main idea — it will become more easier to understand. Main idea is to — Create a token to fuel the securitisation process. This token will be CyberTrust — CABS token, it is standard ERC20 token on the Ethereum blockchain, supported by all ERC20-compliant wallets.
The token serves three roles:
It permits accredited investors purchasing Tokens to securitise major cryptocurrencies up to 35%+ bonus to the current BIT premium. Effectively, ITO participants can pay as little as a 6.3% premium to securitise 1 BTC, as opposed to paying a 84% premium to Grayscale;
It provides the broader investing public with a tool to speculate on the size of this premium;
It provides the broader investing public with a tool to speculate on the size of this premium.
In simple words CyberTrust and CABS token will grant securitisation to investment. So It will protect customers from loss.
1 CABS Token gives the following rights:
The right to exchange one BTC into one BTC Global Crypto Note
(One CABS Token will be required in order to securitise 1 BTC. The exclusive period of conversion will last t+12 consecutive calendar months. t = announcement date for the first BTC securitisation pool.)
The right to convert ETH and BCH into Global Crypto Notes at prices linked to BTC
(CABS Token holders will also have the right to convert ETH and BCH into the corresponding GCNs. The number of CABS Tokens required will be calculated pro-rata depending on the relevant exchange rate with BTC as quoted by Bitfinex. The precise reference exchange may be changed at a later time at the sole discretion of CyberTrust)
How CABS token will help regular consumers(like you and I), if main customers of CyberTrust are banks — CABS tokens will give access to the securitisation process, but can also be traded freely on crypto markets. Their value derives from the premium (price difference) between the crypto asset and the resulting derivative. CABS will be available for trading on major crypto market exchanges such as Bitfinex, Kraaken, Poloniex, Bitrex and others. And if premium price will grow (we definitely believe in that, as we are “cryptoheads”) you will gain profit accordingly.
And short review of ICO itself. Right now (21NOV17) we are on Pre-Sale stage, and it will run 6 more days till 26NOV17.
Main event will start after 14 days from now.
Total Sale Cap — 600.000 tokens
ITO/ICO Total Quantity — 500,000 tokens (3-hour Soft Cap: 350,000)
Base Price — 0,6ETH (~219$)
Accepted Currencies — Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCC/BCH), Ethereum Classic (ETC) By arrangement: USD Tether (USDT), Swiss Francs (CHF) and Euros (EUR)
And what is personally find as a huge plus is:
Token Buyback Price — 50 USD (in ETH equivalent) or 0.2 ETH, whichever is less.
At the moment project raised already 42,770 ETH (~15,6 MM $) with a soft cap only 25,000 and main ICO even not started yet.
Resume: if you trust in crypto like I do, you are ready for some kind of risk (you should never forget that risk always can appear), you want to earn and support CyberTrust — it is really good opportunity.
CybeTrust Twitter: https://twitter.com/cybertrustbank
Website: https://www.cybertrust.io/
Whitepapers: https://www.cybertrust.io/CyberTrust-WhitePaper.pdf
Author: https://bitcointalk.org/index.php?action=profile;u=1050687